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Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
 The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday that also would invest in infrastructure to support mining operations and reduce corporate taxes.
The new 40 percent tax on resoure profits targets industries that have grown rapidly as they've produced the raw materials that feed burgeoning Chinese and Indian manufacturing demand.
Mining royalties currently paid to Australian state governments do not reflect rising commodity prices. The government says mining profits rose by 80 billion Australian dollars ($74 billion) in the past decade, yet government revenues from resources increased by only AU$9 billion.
Andrew Forres, chief executive of Fortescue Metals Group Ltd., last week warned that higher taxes on mining could "kill the golden goose" that had kept Australia out of recession during the global economic downturn. Mine companies also say higher taxes would stifle investment in the resource sector and cost jobs.
Thetax overhaul Prime Minister Kevin Rudd proposes requires Parliament's endorsement to become law. It would introduce the so-called Resource Super Profits Tax in July 2012. The company tax rate would be cut from 30 percent to 29 percent in July 2013 and to 28 percent a year later.
The government forecasts tht the cut in company tax combined with the mining tax will increase Australia's gross domestic product by 0.7 percent a year.
"These changes will not be welcomed by every business or every interest group, but they are the considered, responsible changes we need if we are to turn our success during the gloal recession into enduring gains for our economy, our people and our nation," Rudd said in a statement.
Treasurer Wayne Swan told reporters he could not say whether tax legislation would be introduced to Parliament before national elections are held at a date to be set late this year.
Under the tax overhaul, resource-rich states would continue to reap mining royalties, but the federal government would refund those costs to mining companies before calculating their federal tax debt.
The tax would be levied on profits after all the costs of mining operations, capital investment and dividends to shareholders are deducted.
Marginally viable mine companies would potentially be better off in cases where the costs of extracting minerals barely cover royalty charges because of a price downturn or when the ore deposit is almost exhausted.
About AU$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
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Thursday, 13 December 12
HANDY : WCI-CHINA RATES AROUND $ 6000 AND ECI-CHINA AROUND $ 4000 - FEARNLEYS
Handy
Atlantic market remained unchanged. Rates from USG to Feast were around USD 18k and Black Sea to Feast about USD 10k. USG-Skaw-Passero rates ...
Wednesday, 12 December 12
69.23 PERCENT OF END-USERS ARE BELIEVE, COAL PRICES ARE IN UPWARD TREND
COALspot.com - The Indonesian government’s declared coal reference price for December’ 12 has gained US cents 31 per MT M-o- ...
Wednesday, 12 December 12
CAPESIZE FREIGHT RATES TO RANGE BETWEEN $9,000 - 16,000/DAY IN THE COMING WEEKS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted yesterday, that Capesize time-charter rates are expected to stay elevated in the foll ...
Tuesday, 11 December 12
NEWCASTLE PORT IN AUSTRALIA HAS LOADED 2,720,205 MT OF COAL W/E 10 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,720,205 MT of thermal and coking coal for week ended 0700 hours 10 December 2012, Newc ...
Sunday, 09 December 12
COAL SWAPS HAVE LOST DIRECTION DUE TO LACK OF ASIAN INTEREST
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 2.43 percent M-M but lost WoW by 0.54 percent and 0.62 ...
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- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
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